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Subject:  Re: Retirement Plan - Which Way To Go? Date:  12/1/2005  5:49 AM
Author:  goodnewsonly Number:  48539 of 96151

OK, thanks everyone. Lots o' comments in a short period of time. I did meet with a NAPFA financial planner for a free consultation. It was supposed to be an hour, but she spent two hours with me and answered all my questions. I was quite impressed with her and her firm, which advertises itself as the largest fee-only advisory firm in the area. And, as buzman noted above, the plan would be a comprehensive financial plan, not just limited to investments.

I am mainly interested in the investment part of the plan, but there are other issues as well. Things that I don't know how to figure out, such as pension and insurance decisions and how these will affect our retirement. For example, we don't know if my husband should take a full pension or a pension with a survivor benefit. This might seem like a no-brainer, but for our individual situation, it isn't. The plan prepared by NAPFA would take issues such as this into consideration, provide us with different scenarios, and give us recommendations. The broker says he will do this as well, but I do suspect that it will be more cookie- cutter, as Crosenfield says.

The brokerage plan is free, because I would not have to implement any of their recommendations. But then, what would be the point? I would have a plan that I wouldn't follow. I guess I am answering my own question. $4,000 seems like a lot for such a plan, but I do need one. I also like DrTarr's point about looking at that fee as a percentage of assets. So all of this is good food for thought.
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